Peel NRE has applied for planning consent to develop a science innovation and research centre, sustainable energy park and medicinal cannabis facility on the Isle of Man
Proposals for the 72-acre site at Cooil road in Braddan would create around 250 jobs, ranging from botany and technology to security and exports. The medicinal cannabis facility would include more than 178,000² ft of cultivation space and 102,000² ft for research and development.
The scheme would also feature a solar farm to power the site which would be the Island’s only grid-scale renewable project, contributing to the Isle of Man Government’s ambitions on climate change.
Establishing a global destination on the Island for cutting edge research into cannabinoids
The plans follow a recent change in the legislation of cannabis production and exportation on the Isle of Man and represent a potential investment of over £150m by Peel NRE.
The medicinal cannabis facility will set a gold standard for the burgeoning cannabis industry across the world and unlock partnerships in the public and private sectors.
“A game-changing opportunity for the Isle of Man”
Myles Kitcher, managing director of Peel NRE, said: “This is a game-changing opportunity for the Isle of Man to get ahead in a new and exciting industry that will bring many benefits to the Island and its people and we also hope that it will encourage more renewable projects in the area.
“As expected, our proposals have attracted a lot of attention and, we are pleased to say, significant support from the community during the extensive public consultation. This includes positivity around the emerging industry on the Island, the proposed campus-style development and new educational and career opportunities.
“We will be holding an industry event later in the year for businesses interested in finding out more about available opportunities.”
Dr Alex Allinson MHK, minister for treasury said: “The development of the Island’s medicinal cannabis sector is a key part of the Government’s ambitions to diversify the economy as well as creating a vibrant new sector to attract more investment and skills to the Isle of Man. We are looking to create a world-class infrastructure and continue to welcome interest in developing this sector further.”